Investment Summary
Price | $3,348,750 |
Cap Rate | |
NOI | |
Lease Term | 20 Years |
Lease Type | Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
Rental Increases | 10% rental increases every five (5) years |
Year Built | 2023 |
Building Size | 2,490 SF |
Lot Size | 1.02 acres (44,778 SF) |
Status | Closed |
Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Jack Hinson Brokerage 704.572.9921 jack.hinson@cushwake.com CA RE License #02059267 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NEW 20-YEAR CORPORATE ABSOLUTE NNN LEASE WITH FOUNDER GUARANTY
» New 20-year absolute NNN lease with 10% rental increases every five years
» No landlord management, ideal for an out-of-area investor
» HWY 55 was named a top 500 franchise in the United States by Entrepreneur magazine and
a Next 20 restaurant brand by Nation’s Restaurant News
PROMINENT LOCATION IN LARGE AND GROWING TEXAS RETAIL CORRIDOR
» High-visibility and easily accessible location along State Highway 78, a major arterial thoroughfare traversing the entirety of Wylie (33,866 AADT)
» Outparcel to a Walmart Supercenter, allowing the site to capture significant crossover shopping
» Near several large schools and universities including, Collin College-Wylie Campus (7,500 students), Wylie High School (2,872 students), and Murphy Middle School (1,172 students)
» Beneficial proximity to McKinney National Airport (17 miles) and Dallas/Fort Worth International Airport (fourth-busiest airport by passenger traffic in the world and second busiest in the United States)
DYNAMIC MARKET WITH WITH EXCELLENT SUBURBAN DEMOGRAPHICS
» High average annual household income of $125,562 within five miles of the site
» 99,184 residents within five miles of the property, providing a large customer base for the site
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise HWY 55 and Wylie for steady concurrent growth
» Surrounded by high-density single-family housing developments and large apartment complexes
» Gateway to Downtown Dallas, the third-largest city in Texas (1.3 million residents)
NEW 2023 CONSTRUCTION IN A TAX-FREE STATE
» New high-quality 2023 construction built to latest HWY 55 prototype
» Site features a dual-lane drive-thru and multiple access points for added customer convenience
» Texas is an income tax-free state
Property Description
SOLD
» This HWY 55 has a high-visibility and easily accessible location along State Highway 78, a major arterial thoroughfare traversing the entirety of Wylie (33,866 AADT)
» The property is outparcel to a Walmart Supercenter, allowing the site to capture significant crossover shopping
» Ideally set in a large suburban corridor, the property is near several large schools and universities including, Collin College-Wylie Campus (7,500 students), Wylie High School (2,872 students), and Murphy Middle School (1,172 students)
» The site greatly benefits from its proximity to Downtown Dallas, the third-largest city in Texas (1.3 million residents)
» 99,184 residents live within a five-mile radius of the site, providing a large and reliable customer base
» High average annual household income of$125,562 within five miles of the property
» Projected population and income increases within 1-, 3-, and 5-mile radii over the next five years poise HWY 55 and Wylie for steady concurrent growth